Join our community of smart investors

Rockhopper's Zebedee springs to life

Drilling at Rockhopper's Zebedee prospect provides an early pointer to the potential of the North Falkland Basin
April 10, 2015

Good news from the South Atlantic. This year's drilling campaign in the Falkland Islands got off to a highly promising start after an oil strike was recorded at the first of the six wells targeting the Zebedee prospect. The news buoyed the share price of Rockhopper Exploration (RKH), which holds a 24 per cent interest in the prospect.

IC TIP: Buy at 66p

Premier Oil (PMO), as operator at Zebedee, identified a 25.3 metre oil-saturated interval, along with 18.5 metres of net gas pay in the previously undrilled Hector sand formation. The drill work confirmed the presence of a further fan system to the south of the Sea Lion discovery. The reservoir quality is among the best encountered so far.